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president obama because they're fearful of higher taxes. they're fearful of all those kinds of things. president obama makes the argument that demand, more people working, will create demand and that will create more hiring. so this thing going to be relevant for about ten minutes and after that it's going to devolve into spin for the rest of the weekend. >> which means it will be relevant in a completely different way all the way until sometime tuesday night for sure. ali velshi also going to stick around with us all morning. we've been talking, of course, about jobs, jobs, jobs. as ali said the race there in ohio, virtual dead heat. across the nation, much of the nation as well, president obama, mitt romney, are going to fan out across the battleground states over the next four days. both candidates will spend lots of time in ohio, because as ali pointed out, it's a dead heat. president, three events there. he's going to be talking jobs, and a national public radio poll 57% of those surveyed said economic issues are the most likely to affect their vote. cnn's brienne into keilar is
has paid much attention. but unless nothing is done before january 1st, we are going to see taxes rise on most people because that's the end of the payroll tax cut that president obama and congress agreed to. that also means that the end of the bush tax cuts, not only for people over $250,000 of income, but also everybody else who were to some extent, their taxes were also reduced by the bush tax cut. the alternative minimum tax, that also would kick in. there's no alternative to the alternative minimum tax on the table. so you have the typical family after january 1st seeing a tax hike in the range of $1500 to $3500 for the year 2013. now, i expect congress is going to do something, if it doesn't act before january 1st, it's probably going to act sometime in january and then make what they do retroactive to january 1st. >> all right. looking at the long-term and the short-term. we're going to know what those jobs numbers are tomorrow. great to see you, as always. thank you. >> thanks, thomas. >> so just to point out again, we are awaiting for live remarks from the president as he dise
in why we still have those. >>> plus do you think the rich pay their fair share of taxes? what if we told you they're paying more than ever before? "the wall street journal" steve moore is here with all of the facts. >>> thanks but no thanks. new york city mayor bloomberg tells president obama, not to visit the big apple after the storm. i say thank goodness. but one of my guests says bloomberg is way out of bounds. he is here to disagree with me. even when they say it's not, it is always about money. melissa: first after a two-day hiatus, let's look at market headlines. wall street swung back into gear on the first day of trading since superstorm sandy. stocks were choppy throughout the session. they closed mixed throughout the day. dow closed down 10 points. home depot closed higher on the dow. expected demand of home and construction supplies sent shares up 2%. that makes sense. facebook shares tumbled 4%. a lockup expired on 229 million shares today. another 804 million shares will become unlocked on november 14th. >>> lots of damage to assess. the president just spoke after touring n
to nothiprognosticati melber, neera tanden, kate ton dawson. let's start with the tax plan. if there is something i believe mitt romney is invested in doing, it is the tax plan. he claims it is revenue neutral. >> you have to claim certain things. this goes for both sides. there is this thing called business cycle. this is what we study. in a free market economy, recessions and recoveries, upswings and down swings are part and parcel of the world we live in. when you look at how budgets are proposed, off of the congressional budget office projection. they are not that realistic. in 2014, 2015, 2016, they are projected real gdp growth of 4.4%. sounds pretty good. how realistic is it? if you take a look at reality, what's happened since the beginning of the century? gdp has grown at 1.7% and we know we are in a pretty sluggish economy. there is a huge disconnect between what's proposed and what's going on outside this window? >> that's the big deal. the claim is, i'm going to go in and cut taxes. don't worry, cutting taxes is going to be stimulative. we are going to end up with way more jobs and ther
of getting an affordable mortgage. they brought their tax returns and bank statements to the convention center. the neighborhood assistance corporation of america organized the save the dream event to help people keep their homes. bank of america, chase and others met with homeowners working to lower their interest rates or lower the principal. >> i have been through a divorce and desperate to change -- lower my interest rate. >> i 82 82 -- i couldn't believe it, they took my loan down to 2%. >> save the dream continues through next monday from 8:00 a.m. to 8:00 p.m. >>> a loss today because of weakness in the upperren markets. sun power posted a lost of 41 cents a share. they estimated a loss of 21 cents a share. before the report was released stock closed up 25 cents a share. on wall street today, positive reports on jobs, manufacturing helped push stocks up. the dow is up 136 to 13,232. the nasdaq is up 42 at 3,020. the s&p is up 15 to 1,427. >>> in or out? yes or no. >> governor jerry brown gives voters an ultimatum, we ask if there is another way. >> i am back here at 5:20 p.m., th
, first of all, the president's tax increases are going to hit our economy just like they are going to hit ohio very hard. two-earner families are going to get hit hard and our small businesses will get hit hard. we have a big small tech industry and the tax increases will put our small businesses in jeopardy at the same time it -- >> let me interrupt you here -- virginia unemployment though is among the lowest in the country at 5.6%, so how will you combat that? >> well, virginia's unemployment is low because we've observed what president obama didn't and did the absolute opposite. we cut spending. we cut taxes. we made jobs our number one focus which is why we're one of the number one places to do business, number one place for jobs, but, again, just like governor kasich and the folks here, we need a president who will work with us, not work against us, and that's exactly -- we can't afford all the taxes from obama care, from the president wants to increase taxes at the same time in virginia. he's going to cut up to 200,000 defense jobs which in virginia are a key thing, not just for our
of appearances. i'll tell you, the crowd behind me is getting excited, ashleigh, because air force one is taxing over towards us where president obama is going to be coming out shortly and making his remarks. yes, paul ryan has been an asset to governor romney. it's why some are saying the race here has been pretty tight, although there is a small lead, a consistent lead, for president obama. today we saw "wall street journ journal" nbc news poll, three points up the president is here in wisconsin. yesterday there was a poll in milwaukee, a marquette university poll that had the president up by much more, eight points. you talk to the obama campaign, they'll point to that marquette poll and they'll say it's more accurate. it seems likie internal polls ae in between the two. the bottom line, while he has a lead that is significant, you have to pay attention to it, it's not quite comfortable. that's why you're seeing president obama here today. we saw joe biden here last week. but paul ryan was here yesterday. mitt romney will be here tomorrow. bill clinton last night and this morning. there is a
companies from hiring right now because the uncertainty about tax treatment of assets, of investments and so forth. don't you along to congress more than you do the executive branch to try and get something done as far as job growth goes? >> well, that's what the president tried to do last fall by introducing the american jobs act. you're right. i think extremists in congress blocked the ability to get the economy going again through investment in infrastructure, roads, bridges, and schools. everybody knows that needs to be built. we just witnessed it in the northeast. so we think there needs to be a major investment in infrastructure so that we can compete globally. i think it's really important for corporations that it are sitting on $5 trillion of profits to get their investment bank into securing the middle class in this country. i trust that this president is going to make it happen. >> they're not going to do that, though, if they feel that, you know, their taxes are going to go higher, their health care expenses are going to go higher. the president has not been able to get the two si
's easier to cut. you don't have to pay employment taxes or the other costs that go along with hiring a full-time employee. > > all right michael alter, notwithstanding what we have just been talking about, you did find that optimism was up. > > optimism came back up, and it came up significantly from september to october. it's now hovering around two-thirds being optimistic. the challenge is that two-thirds being optimistic is really where we have been every month in 2012 except for the month of september. so we're back to the norm for 2012 as opposed to a number like 90%, which is really where you need to see it for small businesses to be growing. > > when they're that optimistic, then they are hiring, they're expecting that orders will be coming in, and that's the kind of flourishing economy that they are looking for. > > right. to put it into perspective, small businesses are by definition glass-half- full people. they're going to be optimistic. that's why they're in business, and that's why they're taking on these bigger companies. so when optimism is 2-in-3 being optimistic about the f
by midnight. >>> an east bay city is fighting obesity by trying to tax soda. if it passes it would be the first of a kind in the nation. mike sugerman reports. >> reporter: allen, can i buy a coke? here at tobacco world, coke today costs 1.65? it would be a buck 85 starting i guess next wednesday if in fact measure n passes. will it pass? we're not sure. >> reporter: a little red wagon carrying 40 pounds of sugar has captured national attention in richmond. >> 40 pounds is the amount of sugar that each of richmond's children take in just from sodas alone every year. >> reporter: richmond city council member jeff ritter man who is also a heart doctor is the heart and soul of measure n. it would tax businesses a penny an ounce of sugary drinks sold. it would be the first of its kind in the nation. >> a third of our latino and a third of our african-american students are obese and another 20% are overweight in each group. those young people are going to die younger than they should. >> reporter: the money raised he says would go towards more health programs in schools. businesses here
in form of lower taxes, so they can hire more people and purchase more equipment? that is an idea. we have the owner of metcalf manufacturer and tech resources. thanks for joining me guys. what do you think, bart? let me start with you. is this a fantastic idea? >> no, it is a terrible idea. a terrible idea. melissa: oh, why? >> why? well, you know, if you look at it creating a new agency, might have incredibly powerful and unknown potential regulatory control and far broad-reaching power. this is sort of a weird thing. i talked to, i talked to several ceos about this last night and this morning. they were sort of like, what? melissa: not excited. >> very, very bad idea. not excited at all. i got off the phone with folks from sba actually. they are saying, you know what? maybe there is cost sharing achieved in sort of overarching agency. but guess what? the government sucks at firing people. melissa: yeah. >> pardon my french. but the cost sharing is only achieved when you can actually lay people off. this is terrible idea. melissa: carl what do you think? if it is a cabinet position maybe
tax policy out of the way. i will tell you, the discussion on the floor, many talking about the dollar. is it qe, or is it romney? are the effects of the weaker stock after the number, are they effects of a stronger dollar after the number really because of qe, or are they because not only do we potentially have a challenger that's close enough to win but if that challenger does win, what's to say to bernanke, what's to say to the fed, what's to say to qe, what's to say to the bye bauy backs? you can go either way on it. all these issues are making it difficult for investors who have a good hunch to necessarily bet a bunch. >> very interesting day. you make a lot of good points. jeff cox, what do you think? >> i want to piggy back on this theme of good news is bad news and maybe people are worried about bernanke is going to go to the basement of the fed and pull the plug on the printing press. if investors out there are concerned that we do stop the qe train and it might get in the way of market rally, let me offer something for them. i've been crunching the numbers on the jobs report
to reopen and som expect heavy selling as investors whose fiscal years end in october are looking to get tax benefits by getting rid of losing stocks. insurance companies are preparing for payouts to customers who were affected by the storm. early estimates suggest insurance companies will spend $5 to $10 billion covering costs. bloomberg news reports aig alone could pay upwards of $4 billion. to get fast action from insurance companies, bloomberg suggests: take inventory of what you lost, read terms of your coverage, and check for a hurricane deductible. if you don't have flood insurance, you may be eligible for federal disaster assistance, grants or loans. president obama is already making government assistance available in new york city and parts of new jersey. an executive-level shake-up at apple: two senior vice presidents, one in charge of apple's retail stores and the other tied to the google maps debacle, are leaving the company. john browett's departure is immediate. he cut staffing hours at apple's retail stores, a traditional retail move to improve profits but which, at apple, und
that basically suggests raising taxes on the wealthy, you know, to lower the deficit and romney plan that suggests tax reform that ultimately will produce higher growth. you know, i'm not so sure that either one of those have been detailed specifically so that voters understand, but, nonetheless, that's what tuesday is all about. >> earlier this week, bill, you spoke to cnbc and you sounded a litt little, let's say, jaded about the election. let's listen to what you said and then we'll talk about it on the other side. >> we spent $5 billion on this election for what? to prove that it's a government of the superpac by the superpac for the superpac to prove that basically who wins at this point we'll be at four years in the future. but let's look to something different as opposed to this red and blue state theology that is basically the same. >> does the matter which candidates wins then or do you think we're headed for a fiscal cliff off this fiscal cliff either way? >> well, i think so. and i do think, although there are differences between romney and obama in terms of their policies
companies shipped jobs overseas. his plan cuts millionaires' taxes, but raises yours. he'll voucherize medicare... and make catastrophic cuts to education. so remember what romney said... and what his plan would do. president obama: i'm barack obama and... i approve this message. ♪ ♪ [ male announcer ] combine the pnc cashbuilder visa credit card with a qualifying pnc performance select checking account and earn 75% more than cards earning 1% cash back on almost everything. >>> it was a nightmare scenario for firefighters. flames raced through tightly packed hoernlgs many occupied despite the mandatory evacuation order. to make it worse, the neighborhood was surrounded by floodwaters. this happened last night in queens. sandy ravaged new york. firefighters waded through to fight the flames. in some areas, the water was chest high. as many as 100 home were damaged or destroyed. it is not yet clear what started the fire. >> absolutely horrible there. with trees and tens of thousands of people without power here. lots of you have been writing in with lots of questions about how to dea
to our website naca.com, proof of income, last two years of taxes most important. visit our website and they will give you a list of the required documents. >> reporter: it is call the american dream tour, -- it is called the american dream tour. more than have who come to these gatherings walk away with a better deal saving maybe more than $1,000 per month on their loan. today through monday 8 a.m. to 8 p.m.. terry mcsweeney, abc7 news. >>> this morning oakland police say an attempted robbery may have led to the shooting death of a man in a cell phone store last night. detectives say a man was shot at the metropc store at the 9200 block of international boulevard the victim's identity has not been released. >>> teenager accused of stealing a tv celebrity chef's lamborghini and shooting at two people set to face rean lanement today. a judge ruled there is enough -- evidence against max wade and ordered him to tan trial on various charges. police say he stole chef fieri's car so he could impress a girl after she rejected him he's accused of shooting at a car in mill valley with the g
jobs overseas. his plan cuts millionaires' taxes, but raises yours. he'll voucherize medicare... and make catastrophic cuts to education. so remember what romney said... and what his plan would do. president obama: i'm barack obama and... i approve this message. real big deals of the week. or how to get great prices on things you need. heading into the holidays you look for the best deals. that's why we give you real big club card deals each week. right now, get a super low price on tide, $10.99 for 100 ounces. 12 rolls of bounty are $11.99. that's a dollar a roll! and charmin is $11.99 for 30 rolls. real big deals this week and every week. only at safeway. ingredients for life. >>> here is the deal t might be too good to pass up. sandy forced carnival cruise lines to cancel a trip to the bahamas that was supposed to depart sunday from baltimore. so instead of letting the ship sit emmy, carnival is offering a two-day cruise you out to the sea which departs tomorrow. it appears only the balcony rooms are still available which cost about $190 per person. the carnival pride will
more than that and we would get unemployment down to some acceptable level. >> the tax drop under reagan, which everybody likes to quote, was significantly larger than anything being proposed, including by mitt romney and anything more than we can afford right now. but stay right there, peter. we'll come back to this. >> ali, let me bring in diane swonk, who can take the politics out of this for a moment. we're not going to wake up to the same economic problems on wednesday just because there's a different president, right? it's going to be the same situation wednesday morning as tuesday night. >> absolutely. and i think one of the important issues here is let's keep focus on what's going on here. labor force participation rates, lot of games being played with that. it peaked in 2000 when we had really low unemployment rates and anyone with a pulse -- there's a book written about a nudist that got a job working the midnight shift. i wouldn't want to sit in his seat afterwards. i mean, he worked in the nude. i don't want to vision visualize this. but that was the period. half reduc
and the free market to operate or function properly. i would remove the corporate tax which would give businesses more money to allow them to expand and to hire more employees, and, finally, i would -- i would. >> we can move on. >> former secretary of state condoleezza rice has called education the civil rights shall you of our day. how would you address it. >> no, i don't agree. even though education isen inher right right, the government has failed to provide it. i believe that the current system that's in place is not working. we need to look at new and inventive ideas and some of the ideas such as looking further into private schools and into charter schools, spending and most importantly allowing parents to choose which school that their children go to instead of being restricted by location, and, timely, i would eliminate the department of education and block grant funds drctsly to the state. >> all right. what do we do with afghanistan? what is the end game? >> i think the game is over. i think we need to bring our troops home, not just from afghanistan and iraq but all around
from deficit to surplus, from job losses to job gains. [applause] from higher taxes to higher take-home pay. that's change. [cheers and applause] this is why i'm running for president. i know how to change the course that the country's on. how to get us to a balanced budget. how to build jobs and help raise take-home pay. accomplishing real change is something i just don't talk about, it's something i've done and what i'm going to do when i'm president of the united states with your help. [cheers and applause] and so to people across america, if you believe we can do better, if you believe america should be on a better course, if you're tired of being tired, then i ask you to vote for real change. paul ryan and i will bring real change to america from day one. [cheers and applause] now i know, i know that when i'm elected the economy and the american job market will still be stagnant, but i won't waste anytime complaining about my predecessor. [cheers and applause] i won't spend my effort trying to pass partisan legislation that is unrelated to economic growth. from day one i will
, first of all, the president's tax increases are going to hit our economy, just like they're going to hit ohio very hard. families and small businesses will really get crushed. we have a big high-tech industry in virginia. the tax increases will hit our small businesses at the same time -- >> let me interrupt you here, because virginia unemployment is among the lowest in the country at 5.6%. so how will you come bt thbat t? >> we observed with president obama did and did the absolute opposite. we cut spending, we cut taxes, we made jobs our number one focus, which is why we're one of the number one places to do business, the number one place for jobs. but again, just like governor kasich and your folks here, we need a president who will work with us, not work against us. >> barbara comstock, senior adviser for the romney campaign. thank you. >>> the state of florida looks like a virtual toss-up between president obama and governor romney. find out why the jewish voting block could become pivotal in that state. if you think running a restaurant is hard, try running four. fortunately we've
an executive order to waive the tax and registration requirements on fuel tankers. susan canne candioti. it's incredible when we hear the stories now. you have lines stretching for miles at some of these stations. you have some folks that have just absolutely have h it, and now there's a story about a driver in new york arrested after allegedly pulling out a gun on another driver. tell us what happened. >> reporter: suzanne, it's remarkable. that's right. that happened in queens, new york. police arrested a man who allegedly cut line in the gas line and pulled a gun on a customer who challenged him about cutting into the line. that's when police moved in and arrested this guy. you have to imagine there are occasional dust-ups that we have seen, short tempers in these very long lines. both yesterday and today. people get frustrated, but overall, i have noticed the people that we have seen anyway being remarkably cool. we're talking about people who are stuck in their car for four hours at a time. sometimes the lines going back two miles. we just arrived on the scene of another location. a ga
reaction from the head of the nation's largest staffing firm. dennis: the tax man extending the deadline for businesses that file returns on payroll and excise taxes. cheryl: let's look at how the world currencies are faring against the u.s. dollar. the euro, not a lot of movement. the canadian dollar and the peso minimum movement in the currency market. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. at your local i'i invest in what i know. i turned 65 last week. i'm getting married. planning a life. there are risks, sure. but, there's no reward without it. i want to be prepared for the long haul. i see a world bursting with opportunities. india, china, brazil, ishares, small-caps, large-caps, ishares. industrials. low cost. every dollar counts. ishares. income. dividends. bonds. i like bonds. ishares. commodities. diversification. choices. my own idea
three people inside. one lawmaker is balking at the idea of spending your tax dollars there. steve king is a republican congressman from landlocked iowa, a fiscal conservative who often rails against spending. in fact, he gained prominence for opposing federal aid for victims of hurricane katrina. he says that can teach us lessons now. >> i want to get them resources to lift them out of this water and the sand and the ashes and the death that's over there in the east coast and especially in the northeast. but not one big check, because they send it on gucci bags and massage parlors and everything you can think of in addition to what was necessary. >> representative king said that during a debate. his democratic opponent seized on his comment in the final debate before tuesday's election called king's words, quote, heartless. >>> president obama back on the campaign trail, but still following efforts of superstorm sandy, spending wednesday afternoon with new jersey governor chris christie. the two saw devastated areas from the air on marine one and met with people in the oceanside city,
calls for a temporary quarter cent sales tax increase and would raise state income tax for those making more than a quarter million dollars a year. if prop 30 loses, it would trigger automatic deep cuts to public education from elementary schools up to universities. >>> 5:38. time for weather and lawrence is on the run. he is down in san jose with a preview of the second annual bay area science festival. he has some toys. >> did you build that? >> we are building airplanes and having all kinds of fun down here but you know what? if flying airplanes isn't for you there are all kinds of other things you can see here at the tech museum innovation right now. how about this? there's an asteroid that they are playing with down here. we are going to find out more about that and what they are trying to do to try and solve some real world problems and how they are getting some kids involved in that, too. still, the bay area weather looking good as we head out toward today. lots of sunshine coming our way. a little chilly to start early on as those temperatures are running in the 40s and 50s out
either way. 48% of voters are in favor of governor brown's tax plan. 38% oppose with the rest undecided. prop 30 would increase the sales tax temporarily and raise income tax for those making more than a quarter million dollars a year. if prop 30 loses, it would trigger deep cuts to public education from elementary schools up to universities. >>> up next, we have a good luck story. how a lottery winner nearly missed out on millions of dollars. >> plus, speaking of luck, the new name for this little giants fan. >> and the market opened about 10 minutes ago. let's take a quick look at the early numbers. on friday, a very difficult week in new york right now, the market is up. we'll crunch the numbers with kcbs moneywatch reporter jason brooks coming up. ,, we don't call this our company, we call this our mission. green toys teaches children that if i have a milk jug and i stick it in the recycling bin it can turn into something new. chase allows us to buy capital equipment to be able to manufacture in the states to the scale we need to be a global company. with a little luck green toys co
voters to approve temporary tax hike on incomes over quarter million dollars a year and sales tax hike for four years the governor says the revenue will prevent six billion dollars to schools. -- >>> president obama dives back into campaigning today visiting wisconsin, nevadan and colorado after several days of leading the federal response to superstorm sandy the president's advisers insist the break from campaigning gave him a chance to offer comfort and command in a crisis only a president can deliver. he even got praise from republican governor christy of new jersey. >> he has worked incredibly closely with me, i cannot thank the president must have for his -- his personal concern and compassion for our state and the people of our stay >> we can't change course in america if we -- if we keep attack each other. we have to come together and get america on track again. >> republican challenger mitt romney will be in virginia today helping to raise money for victims of sandy. latest poll shows the race basically tied nationally among likely voters with five days to go. >>> driving in we
back to an economic theory that got us into this mess with tax cuts for the rich that he hopes trickles down and somehow helps the middle class. that's not change. that's more of the same. >> there's no information about the consulate attack in benghazi, about the cia's role, how long it took for them to respond there. there seems to be this dribbling out of information from this administration. respond to the critics who say the president needs to do more on this and he is running out the clock until after election day. >> nobody wants to find out what happened more than the president and this administration. that's why he and the secretary of state have ordered a comprehensive investigation as to everything that happened that night in benghazi, everything that led up to it, so that we can get answers. we'll put people in harm's way doing the diplomatic business of this country, we need to ensure that when we do that, we do it with their safety utmost in mind. that's what this investigation will show us. obviously it's clear -- i don't have any information other than what i read in the
that this november rally has legs? q it has been a good day following that tax related mutual fund selling that ended yesterday. we got into a good start. china coming of better. adp gains. lower jobless claims. optimism for tomorrow's employment report. it may turn into a rally in november. most importantly, we have the election coming up next week. david: him, stay where you are. we want to bring in brian. it was a surprising three digit gain on the dow and s&p. were you surprised and, specifically, leading into the huge jobs report that will affect the election and markets, as well, how do we prepare for that? >> i think what you have this afternoon is a little bit of a melt up and short covering going in. we spent the month of october consolidating. now that we are setting up for the election, i think you are seeing physicians squaring at this point in time. the fiscal cliff will be the big focal point. you had the new adp report. some positivity going into those numbers for the employment data tomorrow. big picture here, though, i don't think anyone will be a hero right now. you are looking at t
's a difference of opinion between the two camps, romney's view that high income tax cuts and deregulation lead to growth. the obama view that it's investments in infrastructure, the work force, things of that nature that will lead to faster growth. and you know, you have to pick one or the other. >> and then quickly, yes or no, will voters take these numbers, these jobs numbers just days before election day, into the voting booth with them? >> probably not. i mean, certainly not the people whose power is out and they're dealing with the hurricane damage and stuff like that. but evidence is pretty clear that people get a general impression of the economy as opposed to looking and sayingering well, this was 171,000 and it was expected to be 125,000 so therefore i'm going to be really happy. >> that was the former chairman of the president's council of economic advisers. jim acosta is traveling with the romney campaign for a rally in dubuque, iowa, after a morning stop in new hampshire. he filed this recoport just a f minutes ago. >> mitt romney is in the middle of a battleground blitz you might
destructive." like allen's votes to give tax breaks to companies... that ship jobs overseas, his economic plan would... help big corporations, devastating the middle class. allen even voted against tax breaks for small businesses. virginia can't afford to go back to george allen. the democratic senatorial campaign committee... is responsible for the content of this advertising. >>> right now on fox 5 morning news, check this out. the scene last night in lower manhattan. a transformer exploding. no doubt contributing to the -- wow, that's pretty big. contributing to the hundreds of thousands in new york with no power this morning. wow. >>> all right, the lack of power is also a problem closer to home. hundreds of thousands in dc, maryland, and virginia, are waking up in the dark and the cold. >> let's get an update now from pep co. joining us on the phone, just as he did yesterday, probably about the same time is clay anderson. clay, good morning. >> good morning, allison. good morning, tony. >> where are we now with the power and pep co's response? >> where we are right now, we have about 25,4
deteriorated which means more gridlock, more fiscal cliff, more god knows what. higher capital gains taxes. higher dividend tax rates. all things that are antithetical to the stock market. are they not? >> absolutely true. and, you know, lately in the last few months we've seen the unemployment rate in some of the key states that republicans need to hold like maine, they've gone up. that's going in the wrong direction. i don't know to what extent they hold the current senator responsible for that. certainly it creates a sense of discomfort with the incumbents and possibility of change there. so, you know, those odds have really changed and that's just a huge big deal for next year. the markets do not like a divided congress and we've got so much at stake in the lame duck session, it's a major issue for the markets and one clearly i think investors are voting with their feet and getting out of the way. >> jeff, why did gold crash today? >> you know, it had to do with the dollar going up. had gold down, silver down, oil down, copper down. they were all down. i think the dollar went up on a l
tried what they wanted to do. giving big tax cuts to the wealthiest americans we couldn't afford. we tried giving wall street and the ability to do what they pleased. you know what we got? falling incomes, job deficits, the slowest job growth rates in centuries and an economic climate that we've been cleaning up for the last four years. so we know what we want to do works. we know wa they want to do doesn't work. we know what we want to do grows our middle class. what they want to do squeezes the middle class. we know that our strategy is to make sure that we bring our deficit down in a balanced way. their strategy ends up shooting the deficit up. so we know what the right choice is, but let's face it, governor romney, ee a very talented salesman. in this campaign, he's tried as hard as he can to repackage these same policies and offer them up as change. but we know what change looks like. and what the governor is offering ain't it. giving more power back to the biggest bank, that's not change. another $5 trillion tax cut in favor of the wealthy, that's not change. refusing to answer
to ask the wealthiest americans to go back to the tax rates they paid when bill clinton was in office. because as long as i'm president, i will never turn medicare into a voucher just to pay for another millionaire's tax cuts. i will never allow this nation to be plunged into another battle over health care reform just so insurance companies can jump back into the driver's seat. i will never allow politicians in washington to control health care choices that women should be making for themselves. so, wisconsin, we know what change is. we know what the future requires. we don't need a big government agenda or a small government agenda. we need a middle class agenda that rewards hard work and responsibility. we don't need a partisan agenda. we need a commonsense agenda that says when we educate a poor child, we'll all be better off. that says when we fund the research of a young scientist, her new discovery will benefit every american. we need a vision that says we don't just look out for ourselves. we look out for one another. we look out for future generations, and we meet those oblig
billion in property damage and another $10 to $30 billion in lost business. while the economy will tax a hard hit from the storm, one analyst believes sandy could have a positive impact in the long run. >> the first information we get will be from lost output and airline cancellation and that will be negative. then, more and more, we'll start seeing trickling into the economic data the benefits of the reconstruction. >> sandy is predicted to be one of the 10 most expensive storms in history but still far below hurricane katrina which ran a price tag of more than $100 billion. >> some perspective there but things are calming down in fairfax county after sandy shut down that area. but there is still plenty of work to be done there. >> beth parker reports. >> reporter: from this spot on his roof, norm richards has a pretty good view of prosperity avenue but some of the people who live mere may not be feeling all that prosperous today. >> water dripping through the living room and i got a littleup set. that is why we spent all this money to have a new roof put on. >> reporter: a leaky roof
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